Earlier this month, the dreaded words “you’re fired” were uttered not by Donald Trump — this time at least — but by fellow New Yorker, Ralph Lauren, as he ended Stefan Larsson’s short tenure at the helm of his namesake luxury retail empire.

Just 15 months ago, Ralph surprised the fashion world by handing Larsson the keys to the CEO office, accompanied by a glowing introduction. “Stefan Larsson is exceptionally talented and he will bring our company a fresh and exciting global perspective. Stefan and I have a strong personal bond and share a vision for the future of Ralph Lauren. I appreciate Stefan’s unique sensibility, his honesty and his authenticity.”

Being fearful about what Larsson would try to do to my favourite brand, I took a deep breath when I heard about his hiring.

I was sceptical about Larsson’s leadership fit given his background. He came to Ralph Lauren as a retail whizkid who had made his name in the apparel world by helping turn high-street clothing purveyor H&M into an international powerhouse and later reviving Gap Inc.’s downscale Old Navy brand. Their business models were a sharp contrast to that of the company he was stepping into.

But who am I to second-guess my fashion hero? Surely, Ralph saw something that I didn’t. So, I chose to trust his judgement and wrote at that time, “The founder’s vision is what’s necessary for the CEO to embrace and champion if we’re going to break the CEO hiring-and-firing routine.”

Then, last spring when Larsson announced the “Way Forward” programme and declared that he was going to help “build the business by going back to the core of what made the brand unique and original,” I thought, “This guy gets it.”

But he didn’t. That programme ended up being just a painful exercise to “right-size” the company. It consisted of slashing costs, reducing the workforce and closing stores. He fell into the uninspiring, often-repeated trap of cutting the way to improved profitability.

He didn’t understand the founder’s vision, the brand’s DNA, or what was unique and original about the company — a realisation that Ralph apparently reached himself in early February. “We have found that we have different views on how to evolve the creative and consumer-facing parts of the business. After many conversations with one another, and our board of directors, we have agreed to part ways,” announced the company’s founding father.

Ralph’s original thoughts proved true. Before Larsson’s appointment as CEO, the suggestion from a board member that Ralph should meet with him was met with a curt response: “Why would I be looking for that?”

After all, Larsson’s discount retail background was far removed from Ralph Lauren’s identity.

The lesson is this: When outsiders join your company, it’s essential that you have alignment on the vision and understanding of what business model will work. Larsson believes in the fast-fashion model, which has wide appeal among shoppers who flock to get catwalk looks at a fraction of the cost. The ready-to-wear fashion show reduces the wait time between clothing hitting the runway and then landing in the stores, but it also shatters Ralph Lauren’s business model and its status as a fashion leader.

There is no denying the fact that the company was in trouble and needed help when Larsson came aboard. Revenues were down 5.3 per cent year-on-year and its stock price tumbled 37 per cent.

Yet, having spent the past two decades working with founders, I know that efficiency and profitability exercises are not what people like Ralph Lauren are looking for — they want more. They want executives who understand what made the company great and who can drive that same DNA into the future.

If words like bold, pioneering, brave, competitive and growth, describe the company’s history, then use them to create your future. The best way to understand what the founder wants, is to understand how he built his company.

It’s rather tempting for a leader from the outside to bring with him his own DNA, business models and interpretation of the vision, but you need to resist that temptation and avoid making the new company a replica of where you came from.

The role of every leader is to fulfil the founder’s vision, not to recreate it for them.

— The writer is a CEO coach and author of “Leadership Dubai Style”. Contact him at tsw@tommyweir.com